Firethorn Wealth Partners LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Firethorn Wealth Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,289 shares of the information services provider’s stock after selling 101 shares during the period. Alphabet comprises approximately 0.8% of Firethorn Wealth Partners LLC’s portfolio, making the stock its 29th largest position. Firethorn Wealth Partners LLC’s holdings in Alphabet were worth $1,402,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Armor Investment Advisors LLC grew its stake in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the last quarter. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after buying an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $55,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,026 shares of company stock valued at $24,026,243. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.8 %

NASDAQ:GOOGL opened at $182.15 on Monday. The firm has a 50-day simple moving average of $172.85 and a two-hundred day simple moving average of $154.44. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.94, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the business earned $1.17 EPS. Analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOGL shares. Wolfe Research lifted their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Citigroup lifted their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Evercore ISI increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. KeyCorp boosted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company increased their target price on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $193.66.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.